Star Garments Group Limited, a subsidiary of the American company Charles Komar & Sons, has secured a $15 million loan (around 9 billion FCFA) from the International Finance Corporation (IFC) to set up Togo’s first large-scale, export-oriented garment manufacturing plant.

The IFC announced the news on July 8. According to the World Bank’s private sector arm, the project could create 4,500 direct and indirect jobs, mainly for women, by 2030.

Announced at the end of 2023, the project will be housed at the Industrial Platform of Adétikopé (PIA) in Lomé. The factory will produce "cut-make-trim" garments and adhere to Leadership in Energy and Environmental Design (LEED) standards, ensuring optimal environmental and health performance.

"Our factory in Togo will offer our customers an integrated 'farm to finished product' process that few destinations in the world can offer," said A. Sukumaran, Managing Director of Star Garments Group.

This project marks the first venture for Charles Komar & Sons and Star Garments in Africa, aiming to diversify the company's production base. 

"IFC is proud to partner with Star Garments to support job creation, exports, and industrial development in Togo," said Josiane Kwenda, IFC Regional Manager for Togo, highlighting West Africa's potential to become a textile industry hub.

IFC's strategic priorities in Togo include agriculture, transport, energy, and digital technology. Its current investment portfolio in the country amounts to $131 million.

Ayi Renaud Dossavi

Togo’s electricity access rate rose from 50% in 2020 to 68% in 2023. According to the Presidency, the surge is due to several inclusive initiatives, including the CIZO and Tinga Fund projects. Over 600,000 households now have light because of these projects.

Another project that fostered the increase is the installation of 50,000 autonomous and intelligent solar streetlights launched in April 2023. It covered 4,599 localities. There is also the Blitta solar power plant. Initially, the plant had a capacity of 50 MWp but it is being expanded.

Togo aims to achieve 70% electricity coverage this year and 100% by 2030.

Esaïe Edoh

Exports from Togo to other ECOWAS countries stood at CFA52.968 billion in March 2024. The figure was disclosed by the country’s Institute of Statistics and Demographics (INSEED).

The biggest portion of the exports, 83% or CFA44.358 billion, was captured by the West African Economic and Monetary Union (UEMOA) countries. Côte d'Ivoire was Togo's main trading partner in the Union; receiving nearly CFA20 billion of goods in March. Burkina Faso was next with CFA8.9 billion and Mali followed with CFA6.2 billion.

Togo also exported CFA4.1 billion worth of goods to Benin, CFA2.3 billion to Niger, and CFA2.8 billion to Senegal.

Togo's exports outside the WAEMU totaled CFA8.6 billion. Its main buyers were Ghana and Nigeria. To these two countries, Togo exported almost CFA4 billion and CFA4.3 billion of goods respectively. Other countries like Guinea, Liberia, Gambia, and Sierra Leone represented smaller markets, with combined sales of just CFA383 million.

From February to March, Togo’s exports grew by 73%. In February 2024, they stood at CFA30.5 billion. These figures highlight the importance of the ECOWAS zone, particularly UEMOA, for Togo's trade. In Q2 2024, ECOWAS States accounted for 40% of Togo's exports.

Ayi Renaud Dossavi

Togo will seek CFA35 billion on the WAEMU market on July 12. This will be the country’s first issue on the regional market this semester. Lomé will issue fungible treasury bills (BAT) and fungible treasury bonds (OAT).

In detail, Togo will seek CFA10 billion through the BATs and CFA25 billion through the OATs. The first securities have a nominal value of CFA1 million, stipulated with a maturity of 364 days and a multiple interest rate. The latter have a face value of CFA10,000, issued on maturities of 3 and 5 years, at interest rates of 6.15% and 6.40% respectively.

Proceeds will finance Togo's 2024 budget, which balances resources and expenses at CFA2,179 billion.

So far this year, Togo has raised CFA463 billion on the WAEMU market. That is around 76% of its annual target of CFA607 billion.

Esaïe Edoh

The Togolese capital is hosting the 23rd International Pharmaceutical Forum from July 4 to 6, 2024. The event, themed "Universal Access to Healthcare, challenges, Issues and Prospects for the Pharmaceutical Sector," is set to gather around 1,500 participants from various African countries, including researchers, teachers, wholesalers, pharmacists, manufacturers, biologists, and public health professionals.

"For us in the pharmaceutical sector, it is essential to align with this major objective. Medicines are the lifeblood of healthcare, and through this theme, Togolese pharmacists aim to unite with their African colleagues to support our government's call for equitable access to healthcare for our populations," said Dr. Koundé Innocent Kpeto, former President of the National Order of Pharmacists of Togo (ONPT).

The forum provides a platform for stakeholders in the pharmaceutical industry to discuss strategies and solutions to improve universal healthcare access across the African continent.

Ayi Renaud Dossavi

Ceco, a Togolese firm, secured the contract to build the Ebolowa-Efoulan-Mbango road (60 km) in Cameroon's southern region–a project with an estimated cost of CFA37 billion. The contract was signed on July 1 in Yaoundé with Emmanuel Nganou Djoumessi, Cameroon’s Minister of Public Works. The deal is conditional on Ceco's ability to secure financing on terms “acceptable” to the Cameroonian government.

The works are expected to start within 24 months after the contract is signed. However, Ceco's CEO, Constantin Amouzou, indicated that initial work might not begin for another 33 months due to ongoing negotiations with an international firm for funding. A formal offer will be presented to Cameroon's Ministry of Finance soon.

"We've been waiting for this document. We are working with an international firm that has completed the necessary due diligence and is only waiting for this document, which confirms our mutual commitment to the Cameroonian government. Within a few weeks, we should conclude everything and present an offer to the Ministry of Finance, which will review and amend it before we proceed to the next stages," Amouzou explained.

The Ebolowa-Efoulan-Mbango road will feature a 10-meter-wide platform with 3.5-meter lanes on each side and 1.5-meter shoulders. It will be built using gravel and bituminous concrete, with engineering structures to ensure durability and safety.

This project is the fruit of a memorandum of understanding signed in July 2022 and execution studies that defined the precise scope of the work. These studies were submitted to Cameroon’s Prime Minister in February 2023.

Fiacre E. Kakpo

Togo officially launched its 2024-2025 soybean production campaign last week in Guérin-Kouka, in the Dankpen prefecture. The CIFS, the body overseeing the industry, organized the launching ceremony. This year, the event’s theme is "Mechanization of soybean production, a factor in increased productivity ".

At the ceremony, the CIF’s boss, Komlan Kadzakadè, said the body learned from the previous campaigns. "We are determined to overcome the challenges encountered to increase our productivity further," he said

Several steps were taken to achieve this goal, including improving access to quality seeds, strengthening producers' technical capabilities, and extending storage and processing infrastructure.

Alex Kpanté Bouab, Director of Entrepreneurship and Agricultural Financing at the Ministry of Agriculture, stressed the importance of producing and processing soybeans locally to create jobs and generate wealth.

"The soybean sector is not only a significant source of foreign currency for our country but also plays a crucial role in our food security and industrialization," he said.

Togo produced 260,000 tons of soybeans in 2023, against less than 25,000 tonnes in 2015. The country currently is the European Union’s biggest soybean supplier.

Ayi Renaud Dossavi

Togo now has a digital registry for businesses. The platform, DataBiz, was launched on July 1, 2024, by the Chamber of Commerce and Industry (CCI-Togo). 

DataBiz aims to provide a more accurate map of Togo’s economic players and to reassure foreign partners in their business and administrative dealings with Togo. "The aim today is for every Togolese company to make itself known on this platform. Everyone wins: the information available enables partners to directly consult the products and services offered by Togolese companies," said Nathalie Bitho, President of the Special Delegation of the CCI-Togo.

For Kofi Helmuth Bonin, Managing Director of BHK Consulting and designer of DataBiz, the platform offers multi-level visibility for local economic players, both nationally and internationally. "We offer an increased presence in the digital ecosystem, improved visibility, and facilitate B2B and B2C interactions. The user-friendly and intuitive aspect of the platform is essential to guarantee easy and effective accessibility," he added.

Moreover, access to DataBiz is subject to a subscription with flexible terms and conditions, depending on users' specific needs.

Visit DataBiz here.

It is now possible for Togo’s micro, small, and medium-sized enterprises (MSMEs) to access their charter online. The Ministry of Trade, Rose Kayi-Mivedor, made it possible on July 2, 2024, in Lomé, on the 2nd edition of the International Day of MSMEs. The event was placed under the theme: "Building a collective resilience of MSMEs for better access to financing and markets".

The innovation aims to foster MSMEs’ development and competitiveness. With it, these businesses should benefit from existing financing mechanisms more easily. 

On the newly launched portal, MSME owners can register and join the charter by entering their details and the details of their businesses. The type and location of the business will be required, with different fees for different categories of businesses.

It should be noted that this charter, approved in 2021, puts MSMEs into four distinct categories: Nano, Micro, Small, and Medium. The sales volume–ranging from 5 million to 1 billion FCFA–determines the category.

Esaïe Edoh